Bank of Hawaii Co. (NYSE:BOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $89.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.02% from the stock’s previous close.
According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “
Separately, Barclays PLC raised their price target on shares of Bank of Hawaii from $73.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 6th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Bank of Hawaii currently has a consensus rating of “Hold” and a consensus target price of $74.43.
Shares of Bank of Hawaii (NYSE:BOH) traded up 1.22% during trading on Tuesday, hitting $80.42. 170,798 shares of the stock were exchanged. The firm has a market capitalization of $3.43 billion, a P/E ratio of 19.01 and a beta of 0.92. The firm has a 50 day moving average price of $83.86 and a 200 day moving average price of $81.71. Bank of Hawaii has a 52 week low of $64.96 and a 52 week high of $90.80.
Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, January 23rd. The company reported $1.02 EPS for the quarter, hitting analysts’ consensus estimates of $1.02. Bank of Hawaii had a net margin of 27.69% and a return on equity of 15.71%. During the same quarter last year, the business earned $0.99 EPS. Analysts forecast that Bank of Hawaii will post $4.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, February 17th. Bank of Hawaii’s dividend payout ratio is 45.39%.
In other Bank of Hawaii news, Vice Chairman Mark Alan Rossi sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $88.29, for a total value of $2,648,700.00. Following the transaction, the insider now directly owns 66,346 shares of the company’s stock, valued at approximately $5,857,688.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Chun sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $85.07, for a total transaction of $102,084.00. Following the completion of the transaction, the director now directly owns 24,046 shares in the company, valued at $2,045,593.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,995 shares of company stock worth $9,074,658. 2.52% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in Bank of Hawaii by 38.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,492 shares of the company’s stock valued at $109,000 after buying an additional 413 shares in the last quarter. Creative Planning raised its position in Bank of Hawaii by 1,057.8% in the third quarter. Creative Planning now owns 1,563 shares of the company’s stock valued at $114,000 after buying an additional 1,428 shares in the last quarter. World Asset Management Inc purchased a new position in Bank of Hawaii during the third quarter valued at approximately $202,000. United Capital Financial Advisers LLC purchased a new position in Bank of Hawaii during the fourth quarter valued at approximately $208,000. Finally, LS Investment Advisors LLC raised its position in Bank of Hawaii by 21.6% in the third quarter. LS Investment Advisors LLC now owns 3,135 shares of the company’s stock valued at $228,000 after buying an additional 556 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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